Finding Self Storage in Addison, IL: Everything You Need To Know

If you're searching for self storage in Addison, there are a few things you should keep in mind. If you're wondering how much you should expect to pay for self storage in Addison, consider the fact that storage prices are closely related to factors like the real estate climate, the economic prospects of the city, and population growth. Using US Census data, we've pieced together a better picture of those factors as they relate to self storage in Addison.

Addison, IL Self Storage and Moving

One of the primary uses of self storage is as a safe place to keep your things between moving homes. If many people are moving to or from Addison, prices could be higher and availability lower. By looking at population changes in Addison, we should be able to get an idea of how many people are moving to or from the city. From 2010 to 2014, the Addison metro area population grew from 37,005 to 37,297, a growth rate of 0.79% according to the US Census.

Real Estate and Self Storage in Addison, IL

Vacancy and occupancy rates in the Addison housing market can help us gauge the demand for living space and thus self-storage space in Addison, and may hint at storage availability and pricing. If there's low vacancy rates in Addison housing, there's likely low vacancy at Addison storage facilities. This would allow storage facilities in Addison to charge higher prices for their units. The US Census estimates that housing vacancy rates in Addison are at 5.1%, while the occupancy rate is at 94.9%. The average occupancy rate in US cities is approximately 89%, which is lower than the rate in Addison, suggesting that storage unit inventory might also be tighter in Addison. With fewer units available, storage facilities in Addison may charge higher prices.

There are 90 self storage units in Addison, IL in a 15 mile radius to choose from with over 90 units available for rent

Using $1.00/sqft as a national average, the average price for a self storage unit is $1.50. This is 50.04% higher with $0.50 net increase in cost per square foot. You'll be paying more in medium to large cities as storage prices are generally higher in densely populated areas.